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might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael duffy, and also "time" columnist joe klein. and we'll hear from major garrett and nancy cordes. >> you going to get a deal today, sir? >> hope so. >> o'donnell: it's all ahead because this is "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. substituting for bob schieffer, cohost of "cbs this morning," norah o'donnell. >> o'donnell: good morning, again. tom coburn and dick durbin are here, and we'll turn to both of you in just a moment. but we want to start with some new information from chief white house correspondent major garrett and congressional correspondent
consumers, they are chronically bad at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is not the same thing as the failure of a clothes maker. suddenly, there are two things that must happen. one, society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down like in 2008. it is often said in the eurozone, we made a huge error in europe of binding disparate economies by means of common currency. this is not the first time these things that happened. it happened in the united states of america. you have disparate economies in the united states of america that are bound together monetarily
strongly for the simpson-bowles framework for deficit reduction, and yet here we are no closer to a sensible decision on how to bring our $1.1 trillion budget deficit and our $16.1 trillion public debt under control. well, guess what? time's up. no more games, no more excuses, no more ceking the can down the road. we have to act and we have to act in a way that puts our fiscal house in order, reassures the financial markets and puts the people ahead of politics, and we have to deal with these tax increases and spending cuts in a humane and tolerable way. the calm act does all of that. look what happens to people in need if we go over the cliff and just do nothing. on new year's day, the lowest income tax rate will jump from 10% back to the clinton-era rate of 15%. that's a pretty big financial bite for people in west virginia and i know in ohio, too, sir. these are people that are struggling right now. instead of an overnight tax hike of 5%, the calm act smooths the transition by phasing in increases over three years. so instead of a 5% increase, the 10% bracket would only go t
% of small businesses, but if we're serious about deficit reduction, we should make sure that the wealthier are paying a little bit more and combine that with spending cuts to reduce our deficit and put our economy on a long-term trajectory of growth. we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership, and i suggested to them if they can't do a comprehensive package of smart deficit reduction, let's, at minimum, make sure that people's taxes don't go up and that 2 million people don't lose their unemployment insurance. and i was modestly optimistic yesterday, but we don't yet see an agreement. and now the pressure's on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure middle-class taxes stay where they are, and there should be an up-or-down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. but i actually think that
. but if we're serious about deficit reduction, we should make sure that the wealthier are paying a little bit more and combine that with spending cuts to reduce the deficit and put our economy on a long-term trajectory of growth. you know, we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership, and i suggested to them if they can't do a comprehensive package of smart deficit reduction, let's at minimum make sure that people's taxes don't go up and that 2 million people don't lose their unemployment insurance. and i was modestly optimistic yesterday. but we don't yet see an agreement, and now the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are, and there should be an up or down vote. everybody should have a right to vote on that. you know, if republicans don't like it, they can vote no. but i actually think that ther
with jim. the most deficit reduction is gog toome from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fisca bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understandhat at this point. >> people get used to tax cs, that's the problem. shoort-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but th cliff is the result of not coming up with deals and they're not going to come up with battery deal, if it's negotiated it's nothe ideal way to solve it outfter deficit. we'd like t gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the other guest's pot, close to a trillion dollars anyway, and it's the closest shot lea
with the deficit in the biggest way. but their only priority is making sure that tax breaks for the wealthiest americans are protected. at some point, i think what's important is that they listen to the american people. >> joining me now, congressman chris von holland of maryland. good evening. it is a good sign that chained cpi is off the table. the senate will be back tomorrow at 11:00. how high is your optimism or pessimism at this moment? >> well, it was a very bad sign when senator mcconnell put this social security change on the table, as part of a small deal, that was obviously something that could have totally thrown a monkey wrench into the process. so the fact that they backed off that is obviously good news. but as senator reid said, there are lots of obstacles still to go. and the fundamental issue remains what the president just said in that clip. both today and for the last year, the number one priority of republicans have been -- has been to use the middle class tax cuts as leverage to try and extract these super big tax breaks for very wealthy individuals, including now their f
to address social security, which is now officially running a deficit, medicare, medicaid costs are growing ast nomically. at least do a dumb deal now and get people over the fiscal cliff and kick the can down the road, that's going to happen anyway. >> steve, no deal, bad deal? i kind of feel like i'm playing poker. what do you think? >> i can't believe it, but i agree with jim. the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fiscal bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understand that at this point. >> people get used to tax cuts, that's the problem. short-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming
of an overall deficit reduction package. if folks can't say yes to good offers, then i also have an obligation to the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> now, one of the questions in the days ahead will be whether or not this strategy back fired because republican leaders on the hill had their feathers ruffled by the fact that the president seemed to be blaming them. and speaker john boehner saying he should spend more time negotiating, why are you on tv while mitch mcconnell is working with harry reid to troy to get a deal. the president's point was if they do not make any progress on bipartisan talks in the senate since the clock is running out he wants a straight up and down vote on the senate on his fallback level. put it go in the $250,000 a year and extend unemployment benefits for 2 million americans americans americans, dana. >> this is bob beckel. are you done? >> i had a great question, but age before beauty. >> a lot of age and no beauty. >> what? >> ed, truth be known, and we see this fisca
. it also takes everybody off the hook. dr. gabor matÉ on attention deficit disorder, close encounters with drug addiction, and the destruction of american childhood. all of that and more coming up. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. today, a democracy now! special with the canadian physician and bestselling author gabor matÉ. from disease to addiction, parenting to attention deficit disorder, dr. matÉ's work focuses on the centrality of early childhood experiences to the development of the brain, and how those experiences can impact everything from behavioral patterns to physical and mental illness. while the relationship between emotional stress and disease, and mental and physical health more broadly, is often considered controversial within medical orthodoxy, dr. matÉ argues too many doctors seem to have forgotten what was once a commonplace assumption, that emotions are deeply implicated in both the development of illness, addictions and disorders, and in their healing. dr. matÉ is the bestselling author of four books: when t
the deficit to 12-7. third quarter, same score. syracuse's pass deflected and right into the hands of becket rails. the teamwork to a touchdown and back in front by 12. later, prince tyson gullo the carry and kicks it outside. nobody, i mean nobody's going to catch him. 67 yards for the td and finishes with 215 rushing yards. wing it 38-14. >>> tomorrow is a meaningful sunday of football for many teams. some vying for homefield advantage, some a higher seed and some just a spot in the post season. 10612 play-off spots were clenched, including all six in the afc and that means two spots are up for grabs. will the redskins get one of those? this guy hopes so. robert griffin 3, his athletic age allowed the redskins to open up their offense and a threat with the legs, rushing for over 700 yards and six touchdowns and he has a canon of an arm. twenty touchdown passes, just five interceptions and griffin was also huge in the big every game this season with four touchdowns and back-to-back games, including on turkey day. the big save, of course, nothing new for the heisman trophy winner turned nfl
to reduce the deficit. one trillion dollars in spending cuts over the next 10 years but these changes would result in more savings in the next 10 years and would solve our deficit problems for a decade. they say their biggest priority is dealing with the deficit. they are behaving and protecting the tax breaks for the wealthiest americans. that seems to be their overriding theme. host: a new development yesterday, the vice president joe biden was called in by mitch mcconnell, who said he needed a dance partner in all of this. guest: if you remember on friday, the president said he was going to turn over the lead to senator reid and senator mcconnell to work out a deal that could pass the senate and that he would sign on to whatever deal that was. senator reid and senator mcconnell were not able to reach that deal. the negotiations between them have turned increasingly bitter and senator mcconnell basically said that he could not work with senator read anymore and reached out to joe biden and ask him to resume the role that he has had in previous negotiations. the arbiter, the deal maker. jo
and services among consumers, they are chronically bad at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is not the same thing as the failure of a clothes maker. suddenly, there are two things that must happen. one, society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down like in 2008. it is often said in the eurozone, we made a huge error in europe of binding disparate economies by means of common currency. this is not the first time these if things that happened. it happened in the united states of america. you have disparate economies in the united states of america that are
and the preference of a larger agreement. a larger deal. that solves our deficit problems in a balanced and responsible way. it is not just deal with tax and the deals with spending and a balanced way so that we can put all of this behind us and just focus on growing our economy. with this congress, that was obviously a little too much to hope for at this time. maybe we can do it in stages. we're going to solve this problem instead and several steps. last year in 2011 we started reducing the deficit to one trillion dollars in spending cuts. those have already taken place. the agreement being worked on right now would further reduce the deficit by asking the wealthiest 2 percent of americans to pay higher taxes for the first time in two decades. that would add hundreds of billions of dollars to deficit reduction. that is progress. we're going to need to do more. keep in mind that just last month republicans in congress said they would never agree to raise tax rates on the wealthiest americans. obviously the agreement that is currently being discussed would raise those rates and raise th
trillion dollar deficits that federal government carried over the past four years in its federal budget and they see that something has to change with our spending habits. that's the big concern with constituents in my district that we have to deal with spending first, before we should be talking about tax increases. we can talk about taxes. the president continues to talk about taxes first but we haven't dealt with the real problem and that's the drivers of our debt in our spending. >> all right. thank you, sir. pleasure to have you with us, congressman. >> all right. >> as we mentioned, dow jones was up about 80 points with shofrt while ago when they thought at 1:30, the president was going to announce a deal right now we are only up about 28 points on the dow. 6.5 on s&p and nasdaq is up 25. now to the other side. representative adam shif shif democrat. welcome to "power lunch." >> thank you. good to be with us. >> outlines of news from different news wires and if indeed the details are correct, would you support the measure? >> i want to look the at full package also. i think would
enacted by congress to frighten itself into passing deficit reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcements to get their act together with he didn't exactly project confidence. >> this is deja vu all over again. america wonders why it i
on debt and deficits. we kept on pushing it off, pushing it off into the future. now we are right at the point where we have to make a decision on debt, dficits and spending and all we're talking about is a deal on taxes. it seems very likely that tax rates on higher income people will go up. we know for a fact that social security taxes will go up tomorrow, and some obamacare taxes they kick in as well tomorrow morning. so all we're talking about at the moment is raising taxes, we are doing nothing on deficit, debt and spending, that means this wrangling, this mess will continue. rick: child tax credits get extended according to some reports now. the earned income tax credit gets he can tended. the college tax credit gets extended for another five years, these are all things that cost u.s. taxpayers a lot of money, and it's probably just the beginning. >> it sounds like they are throwing a lot of items into the tax basket. i'd like to hear what they are going to say about the alternative minimum tax and the estate tax is that included in this tax basket? you'll notice, rick all t
than what people are getting -- >> on social security. that's nothing to did with the deficit. >> but the fact that all of these things need to believe in the grand bargain, sort to speak -- >> they do not. social security shouldn't even be on the table because it is nothing to do with the deficit. doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand i
deficit and debt and then a more recent one that passes an extension of all the bush tax cuts. so the their position right now, at least speaker boehner's is, hey, it is time for the senate to act on some of our bills. we'll keep an eye what is happening there. heather: busy day for them. president obama taking his case to the american public. here is what he had to say about the situation playing out on capitol hill. >> what's been holding us back is the dysfunction here in washington and if, you know, people start to see that on january 1st this problem still hasn't been solved, that we haven't seen the deficit reduction we could have had, the republicans been willing to take the deal i gave them, if they say, that people's taxes have gone up, which means consumer spending is going to be depressed, obviously that will adverse reaction in the markets. heather: there is lot at stake for all americans. three big issues on the financial front this morning as a matter of fact,. stu varney, host of "varney & company" on the fox business network joins us now. stu, no deal on capitol hi
hasn't been solved, that we haven't seen the deficit reduction that we could have had had the republicans been willing to take the deal that i gave them, if they say that people's taxes have gone up, which means consumer spending is going to be depressed, then, obviously, that's going to have an adverse reaction in the markets. >> what about automatic spending cuts? those take effect january 1st, as well. do they have to be part of this deal? you've got half of those cuts in defense law? >> well, congress agreed they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what is so-called the sequester, these automatic spending cuts, and that also would have a better outcome for our economy long-term. but, you know, so far, at least, congress has not been able to get this stuff
agreement, a bigger deal, a grand bargain or whatever you want to call it, that solves the deficit problems in a balanced and responsible way that does not just deal with taxes but also spending so that we can put all this behind us and focus on growing our economy. with this congress, that was obviously too much to hope for at this time. [laughter] maybe we can do it in stages. we will solve this problem instead in several steps. in 2011, we started reducing the deficit through $1 trillion in spending cuts which have taken place. the agreement being worked on right now would further reduce the deficit by asking the wealthiest 2% of americans to pay higher taxes for the first time in two decades so that would add additional hundreds of billions of dollars to deficit reduction. that is progress but we will need to do more. keep in mind that just last month, republicans in congress of they would not agree to raise tax rates on the wealthiest americans and the agreement being discussed would raise those rates permanently. [applause] keep in mind, we will still have more work to do. we still ha
, is this the deal i would have preferred? no. but this compromise does make a serious down payment on the deficit reduction we need. most importantly, it will allow us to avoid default and end the crisis that washington imposed on the rest of america. it ensures also that we will not face this same kind of crisis again in six months or eight months or 12 months. and it will begin to lift the cloud of debt and the cloud of uncertainty that hangs over our economy. >> it's a real disappointment today. i'm sorry that the so-called super committee was not able to do its work because this makes it much more difficult to achieve the deficit reduction targets that must be done. what happens next is there will be $1.2 trillion reduction in spending through what's called sequester. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two
go up as part of an overall deficit reduction. >> a health scare for hillary clinton. new details as the secretary of state undergoes treatment for a blood clot in a new york hospital. >>> ringing in the new year. from sydney to new york city. the world turns the page to 2013. good day. i'm chris live in washington in for andrea today. deal or no deal? as vice president joe biden and senate republican leader mitch mcconnell continue negotiations, we just have learned that president obama will speak about the fiscal cliff at 1:30 p.m. eastern time. with all that happening, let's get right to our daily fix. nbc's kelly o'donnell on capitol hill, nbc's kristen welker at the white house, and jonathan capehart, washington post editorial writer and my colleague and an msnbc contributor. okay, kelly. the action is on the hill where it's been for the last few days. let's start with you. this is a fast-moving story. give us the latest perimeters of what appears -- i emphasize appears to be the start of a deal. >> well, it has been coming closer together, so we are told. the question is wha
at the outlines and projected you'd actually add to the deficit as a result of a mini deal over the next period. >> yeah, jonathan, some people have tried to talk about the reductions in spending that ane house in order. that would be the republican side. the president and a lot of folks in his party have shied away from those discussions and i think chuck is accurate in saying that's not going to happen in this conversation but it should. you are right. i can quote from the "juan post" editorial in which they chastised the president for not following through on his campaign promises to talk about a balanced solution, one that would involve both tax revenue and savings. ironically, the revenue that's produced in the president's proposals is about the same amount of money we're going to be spending just to provide disaster relief because of the hurricane to some of the folks on the east coast. >> now, wait. i don't think that's fair to the president. the president had put serious spending cuts on the table. he and speaker boehner a week and a half ago were this close in a $4 trillion deal, they
a plant to grow the economy and shrink our efforts -- deficit. it is a balanced plan, one that would cut spending in a responsible way and ask the wealthiest americans to pay a little more. i will keep working with anybody serious about getting a comprehensive plan like this done because it is the right thing to do for our economic growth. we are not at the point where in a couple of days, the losses at the americans' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is not reached on time, i will urge the senate to hold an up or down vote on a basic package that protect the middle tax from the income tax hike, extends vital unemployment insurance and lays the groundwo
trillion in new debt. trillion dollars deficits as far as the eye can see and all he wants to fight for is higher taxes that will fund a mere 8 and a half days of government. frankly nothing but a pathetic disgrace. you the american people deserve a government that lives within its means. you deserve a government that is not obsessed with using your money to accumulate their power. it is time for americans to understand the simple truth of what is going on here. a truth by the way that an abusively biased news media just ignores. joining us now with reaction as america is on the brink republican senators pat toomey and ron johnson. senators, welcome back. >> hi, sean. >> hi, sean. >> sean: let's start with the meeting today. senator toomey, i'm told that the president wassed adamant n the meeting and didn't come off, are the original request was to keep tax rates at the same for the middle class but everybody above $250,000 going up. is that what you heard? >> i haven't heard about specific elements of the conversation, sean, i wasn't in the room. what i do understand from people w
think that i will finish the job of deficit reduction through spending cuts alone without asking also equivalent sacrifice from millionaires or companies with a lot of lobbiesists, et cetera. if they think that's how we'll solve this, they've got another thing coming. >> from what we hear the senate republicans have gone along with a tax increase. i can imagine what the president said and what they're talking about is not pleasing to you. >> well, looks like another washington deal and not a fair deal. we've got spending problems. we've got entitlement problems. senate republicans have agreed to tax increases, then i think we're missing out on the real part of the package we need to have. that's dealing with a spending problem. >> would you vote for a deal with these tax increases? >> no, i don't think so. when i look at those numbers, we're still trying to sort through those. it looks like at least a million small businesses will see taxes increase. i have yet to see any small business owner that says you increase my taxes, i'm going to grow the economy, i'm going to hire more people
. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone without asking also equivalent sacrifice from millionaires or companies with a lot of lobbyists, et cetera, if they think that's going to be the formula for how to solve this thing, they've got another thing coming. >> let's get some reaction now with senate john barrasso. have asked vice president biden to come to capitol hill to sell the deal to democratic lawmakers. what do you make of that headline? >> i know the republicans are going to meet at 4:30 this afternoon. all the republicans in the senate to go over the proposal. it sounds like the democrats are as well. but the democrats have been very divided over the level for raising taxes, over how to tax small businesses which are the job makers in this country, as well as the death tax which hits so many small businesses and farms and ranches and job creators. so the democrats are divided. we're going to meet at 4:30 to go over the specifics of the agreement to see if it's something that we will vote for. >> how are you on the republican side?
graham, what will we do with the money, what will i say. >> it is added to make up the deficit that everyone has been discussing -- >> it goes for -- >> not new spending. you know, you gets down to another thing, which was a very bad idea, and that is sequester. and whether sequester goes into effect or not. >> chris: well, that -- >> that is the 800 pound gorilla. >> chris: let me ask you about that. i enjoyed your brief state as the host of fox news sunday. >> i think it is a good jeegs i do, too. senator graham, all washington has been talking about is the tax side of the cliff. let's talk about intending side of the cliff, there is still as part of the cliff, $110 billion sequestered. automatic cuts, defense cuts, domestic cuts. what will happen to that? will you address that? >> we'll -- i called leon panetta, last night during dinner. >> chris: secretary of defense. >> and he said, i have been told there will be nothing in the bill to avoid sequestration going into effect and this is the failure of the super committee to find $1.2 trillion in cuts for the debt ceiling inc
they are talking about the doctor fix. it will increase the size of the deficit. if you are looking for ways to fix the problem, we have the biggest place to go in terms of cuts. ashley: thank you so much. thank you for joining us. shibani: the city of chicago is number one and parking costs. giving chicago the most expensive parking meters in the country. downtown residents can look forward, starting tomorrow, to paying $6.50 for parking in 2013. up from the current rate of $5.75. back in 2008, former mayor richard daley agreed to release the parking meters to a private company. the city in turn received a billion dollars as part of the agreement. current mayor is investigating the deal, but, in the meantime, all meters will be set to the new rate to the end of february. get your quarters out. bring your dollar bills, i guess. ashley: take the bus. shibani: the midnight deadline is fast approaching. will there be a framework to avoid the fiscal cliff? ashley: up to the minute coverage from washington. guess what, republicans should just walk away now. oh, boy. ♪ [ indistinct shouting ] ♪ [ ind
. with $480 billion to decrease the deficit. we had our choice we wouldn't be doing it that way. the government is too big and in effective we could take most of the money by decreasing spending. the 11th hour and there are a lot of people who shouldn't be having tax increases if we don't reach a compromise. so those are two different questions and i'm not about to give up the $1.2 trillion. we haven't cut a penny yet. so, that is not something i'm willing to give up. that is the thing. let start there. your book, your work, your speeches, you have identified hundreds and hundreds of billions of dollars of waste that the government doesn't need and the country doesn't need and it seems to evaporate. and from what i gather, the debate right now is whether to put off the spending cuts, it is always maniana when it come to spending, sir. and you no as well as i do, taxing the successful earners is not going to solve our problem. >> there is one bright side. if this bill happens, 95% of americans are going to have rates locked in. they are going to have some sernl ti for the future
points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> reporter: inside closed door negotiations this weekend, aipds say there have been "constructive move." on key issues like taxes, including compromise on where to set higher rates for wealthier americans and avoiding a jump in inheritance taxes. but this afternoon, republican leader mitch mcconnell complained that democrats had failed to deliver a promised counteroffer. so mcconnell called for help, phoning vice president biden who came to the white house to
Search Results 0 to 49 of about 545 (some duplicates have been removed)